ATRenew (NYSE:RERE) Stock Price Down 3.2% – Here’s What Happened

ATRenew Inc. (NYSE:RERE) was down 3.2% on Monday . The stock traded as low as $2.68 and last traded at $2.69. Approximately 207,048 shares traded hands during trading, a decline of 80% from the average daily volume of 1,040,047 shares. The stock had previously closed at $2.78.

ATRenew Stock Up 0.4 %

The company has a fifty day simple moving average of $2.52 and a 200-day simple moving average of $2.35. The firm has a market cap of $624.31 million, a P/E ratio of -21.25, a price-to-earnings-growth ratio of 0.62 and a beta of -0.16.

ATRenew (NYSE:RERE) last posted its quarterly earnings results on Tuesday, August 20th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The business had revenue of $519.69 million for the quarter, compared to the consensus estimate of $514.00 million. ATRenew had a negative net margin of 0.99% and a positive return on equity of 4.80%. As a group, research analysts forecast that ATRenew Inc. will post 0.16 EPS for the current year.

Institutional Investors Weigh In On ATRenew

A number of institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC bought a new position in shares of ATRenew during the second quarter worth $3,328,000. BRIGHT VALLEY CAPITAL Ltd bought a new position in shares of ATRenew during the 2nd quarter valued at about $1,396,000. Renaissance Technologies LLC grew its position in shares of ATRenew by 26.0% during the second quarter. Renaissance Technologies LLC now owns 560,853 shares of the company’s stock valued at $1,329,000 after purchasing an additional 115,853 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of ATRenew in the first quarter worth about $134,000. Finally, Marshall Wace LLP increased its holdings in shares of ATRenew by 231.8% in the second quarter. Marshall Wace LLP now owns 192,036 shares of the company’s stock worth $455,000 after purchasing an additional 134,151 shares during the last quarter. 19.29% of the stock is owned by hedge funds and other institutional investors.

ATRenew Company Profile

ATRenew Inc, through its subsidiaries, operates pre-owned consumer electronics transactions and services platform in the People's Republic of China. It primarily sells mobile phones, laptops, tablets, drones, digital cameras; and vintage bags, watches, liquor, gold, and various household goods through its online platforms and offline stores, as well as provides services to third-party merchants to sell the products through its platforms.